Streetbeat News

Credit

AGG

BND

TLT

Bond yields remain above 4% despite expectations of Fed rate cuts, influenced by recent economic data and inflation concerns. The S&P 500 reached record highs with investors pricing in rate cuts. Treasury yields, crucial for mortgage rates and borrowing costs, are closely watched, with the 10-year U.S. Treasury note at 4.25%. Investors' expectations for rate cuts have moderated, affecting bond ETFs like BND, AGG, and TLT.

Portfolio Pulse from Natan Ponieman

March 26, 2024 | 7:14 pm

BLUE

Bluebird Bio, Inc. (BLUE) has announced that its cash and cash equivalents, excluding restricted cash and assuming three tranches of $125M in proceeds from its term loan facility, will be sufficient to fund operations through Q1 2026.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 11:07 am

ESAB

ESAB has announced the upsizing and pricing of its 6.25% Senior Notes due in 2029. This financial maneuver is aimed at restructuring the company's debt and potentially financing future growth or operational needs. The upsizing indicates a higher demand or a need for more capital than initially anticipated, while the fixed interest rate of 6.25% reflects the cost of borrowing for ESAB over the term of the notes.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 10:00 pm

QMCO

Quantum (QMCO) received a letter from Nasdaq regarding non-compliance with the $1.00 bid price requirement. The company also filed a Form 8-K, detailing an amendment to its term loan agreement to use asset disposition proceeds for debt reduction. Quantum is working to resolve delays in filing its Form 10-Qs due to re-evaluating standalone selling price under ASC Topic 606, aiming to be current with SEC financial reports by May 7, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 8:12 pm

AMD

BA

TSLA

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin are gaining momentum as analysts predict a positive outlook for the altcoin market and a potential rise in Bitcoin's value to $70K. In the US markets, stocks such as Esperion Therapeutics and Masimo are moving higher in pre-market sessions, despite a fall in investor sentiment. Political developments include potential actions by Trump regarding a bankruptcy trigger and Biden's comments on Trump's golf skills. In technology, AMD and Nvidia show divergent premarket movements, while China plans to replace AMD and Intel chips and Microsoft Windows in state computers. Tesla faces scrutiny over its production and valuation, but also sees developments with its Cybertruck and team. Boeing's labor union seeks a board voice, and Cathie Wood's Ark invests further in Tesla while selling a Bitcoin-linked stock. Other notable mentions include developments in Ukraine, Facebook, Nissan's electrification plans, and energy sector movements.

Portfolio Pulse from Akanksha Bakshi

March 25, 2024 | 12:51 pm

MTCH

Match Group Holdings II has amended its credit agreement, establishing a $500M replacement revolving facility. This amendment, known as Amendment No. 9, modifies the original agreement from October 7, 2015, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 8:31 pm

SUP

Centerview Partners is in talks with private credit lenders to refinance Superior Industries International Inc.'s (SUP) outstanding debt. The aim is to refinance approximately €250 million ($270 million) of unsecured bonds due in 2025, alongside about $250 million of redeemable preferred stock. This move is part of efforts to manage the autoparts maker's upcoming debt maturities.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 7:34 pm

BTCUSD

ETHUSD

LULU

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin show mixed performance amid a decrease in weekly jobless claims. Ripple's CEO comments on SEC's actions against Ethereum and XRP. Lululemon's weak outlook impacts pre-market session alongside Nike. US political tensions rise with Marjorie Taylor Greene's statements. Taiwan's tech surge and China's investigation into PwC over Evergrande fraud affect the global economy. Apple faces an antitrust lawsuit, while Tesla's Cybertruck production ramps up. Air travel costs are expected to rise due to airlines passing on decarbonization expenses. Various companies face legal and market challenges.

Portfolio Pulse from Akanksha Bakshi

March 22, 2024 | 1:13 pm

HLF

Herbalife Ltd. (NYSE:HLF) is initiating a refinancing process for its 2018 Term Loan B, aiming for $1.2 billion in secured financing and a $400 million credit line to repay existing debts, including the Term Loan A, Term Loan B, revolving credit facility, and a portion of the 2025 Senior Notes.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 11:12 am

RHP

Ryman Hospitality Properties has upsized its private placement of senior notes to $1 billion, with a 6.500% interest rate due in 2032. Originally announced at $800 million, the offering has been increased and is expected to close on March 28, 2024. The net proceeds are anticipated to be around $983 million after expenses. These notes will be senior unsecured obligations, guaranteed by the company and its subsidiaries.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 7:41 am